📖

Practicing Good Choices

Economics: Needs and Wants

Day 110of 180
Week 22of 36
25Minutes
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🖨️ Download Worksheet (PDF)
🎯 What You'll Learn

Learning Objectives

1

Understand the difference between needs and wants

2

Practice making wise economic choices

3

Apply biblical principles of stewardship

📖 Scripture Connection

Proverbs 21:5

“The plans of the diligent surely lead to profit; and everyone who is hasty surely rushes to poverty.”

— Proverbs 21:5 (WEB)

Demonstrates the importance of careful planning and wise choices with money

📦 Materials Needed

  • Play money
  • Shopping scenario cards
  • Colored markers
  • Poster board
  • Small toy items
📚 Step-by-Step

Lesson Plan

1Opening (5 min)

Gather students in a circle and review the week's learning about needs and wants. Ask students to share one thing they need and one thing they want.

💭 Review Question: What's the difference between something you need and something you want?
2Teaching (8 min)

Explain that making good choices with money is like being a helper for God. We can show we're thankful by using money wisely.

📌 Key Talking Points:
  • Needs are things we must have to live
  • Wants are things that would be nice but aren't necessary
  • God wants us to be careful with what He gives us
💬 Discussion Questions:
  • What are some needs you have?
  • How can we be thankful for what we have?
3Activity: Wise Shopping Challenge (10 min)
game

Students will practice making economic choices with limited play money and scenario cards

📝 Instructions:
  1. Give each student $10 in play money
  2. Distribute scenario cards with various items
  3. Students must choose what to buy while meeting basic needs first
  4. Discuss choices as a group
🔄 Variations:

Simpler: Use fewer items and simpler choices

Challenge: Add unexpected expenses to scenarios

4Closing (2 min)

Recap the importance of making wise choices

📝 Review Questions:
  • What did you learn about needs and wants today?
  • How can we be thankful for what God gives us?
🙏 Prayer:

Dear God, thank You for giving us what we need. Help us to be thankful and wise with the gifts You provide.

Coming up: Next week, we'll continue learning about how we can be good helpers with the resources God gives us.

💎 Memory Verse

Proverbs 21:5

“The plans of the diligent surely lead to profit”

— Proverbs 21:5 (WEB)

🎯 Activity: Repeat verse while making a saving motion with hands

👨‍👩‍👧 For Parents

Teaching Notes

📚 Background:

Children are learning basic economic concepts of needs, wants, and making wise choices

💡 Teaching Tips:
  • Discuss family budget at home
  • Help child distinguish between needs and wants
  • Encourage saving
🤔 Common Struggles:

Children may have difficulty understanding abstract economic concepts

👀 Signs of Understanding:

Understanding of basic needs versus wants

🚀 Want More?

Extension Activities

  • Create a savings jar at home
  • Play store at home with play money
  • Draw pictures of needs and wants

Ready for Tomorrow?

Great job completing today's lesson!

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